Carmel, IN – Carmel Mayor, Jim Brainard, is presenting the 2010 Budget at the Carmel City Council Meeting tonight, October 5, 2009. This budget is designed to keep home owners tax payments steady while providing excellent city services. The proposed 2010 general fund budget is $63,145,382, which is lower than the 2009 budget. It is anticipated that the Council will vote on the new budget on October 19th.
The budget the mayor is presenting to council has been reduced from the budget submitted earlier in the summer. After several budget meetings and workshops, Mayor Brainard was able to reduce the budget by an additional $563,654 by asking departments to review their proposals for ways to cut additional spending. The 2010 budget does not include a cost of living adjustment for city employees. In addition to the reduced budget, the Mayor is also proposing a de-appropriation of $1,480,382 from the current 2009 budget. The funds de-appropriated in 2009 will be carried over to 2010. The projection is that at the end of 2010, Carmel would have $8.7 million in the ending operating balance of the General Fund.
“As our country and subsequently, our community is faced with a challenging economic forecast, it is important that we move forward as conservatively as possible while continuing to provide a high level of service to our community,” said Mayor Brainard.
The 2010 budget being submitted tonight is accompanied by a detailed updated multi-year Fiscal Plan for the City. This helps the City in the fiscal planning process by projecting future revenue, expenses, TIF revenue and bond payments. The fiscal plan allows Carmel to project out its future revenues and adjust its budget accordingly in order to avoid property tax increases. Many cities do not have a multi-year Fiscal Plan, and without it, the budgeting process can be very difficult.
The City of Carmel’s current rate is .5033. Carmel has one of the lowest property tax rates of any of the more than 100 cities in Indiana.
“It has always been our goal to provide the citizens of Carmel with the highest level of service at the lowest possible cost and I believe this budget and the proposed tax rate levy will accomplish both those goals. We have always strived to keep spending under control and it is more important now, during our country’s current economic crisis, to keep costs low,” said Mayor Brainard.
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Contact:
Nancy Heck
(317) 571-2494
City of Carmel
www.carmel.in.gov
One Civic Square, Carmel, IN 46032
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